ASM ANNOUNCED INCOME DISTRIBUTION OF 6.25 SEN PER UNIT
17 March 2009

KUALA LUMPUR – Amanah Saham Nasional Berhad (ASNB) has announced an income distribution of 6.25 sen per unit for Amanah Saham Malaysia (ASM) for the financial year ended March 31, 2009.

PNB Chairman, Tun Dato’ Seri Ahmad Sarji Abdul Hamid said, the income distribution involves a total payout of RM407.58 million.

The payment will benefit a total of 402,513 unit holders who has subscribed to 7.21 billion units of ASM.”

Tun Dato’ Seri Ahmad Sarji said, the ASM financial year which ended on March 31, 2009 has been a challenging year due to the global investment environment which was severely affected by the world’s financial crisis and worsening economy.

“The benchmark Kuala Lumpur Composite Index saw a drop of 32.39 percent from 1,247.52 points recorded on March 31, 2008 to 843.45 points on March 13, 2009. Nevertheless, our prudent strategy has enabled the ASM fund to provide competitive returns to its unitholders’” he said during a press conference to announce the income distribution today.    

Commenting on the global scenario, Tun Dato’ Seri Ahmad Sarji said the world’s major economies have aggressively been slashing rates to help thwart further slide and at the same time spur growth.

He said the US Federal Reserve has acted by taking its key rates closer to zero, at 0.25 percent, the European Central Banks cut their key rates to new lows at 1.5 percent and the Bank of Japan has maintained its rates at 0.1 percent.

At home, Bank Negara has reduced its overnight policy rate three times throughout the ASM financial year to 2.0 percent to help generate domestic growth. The nation’s gross domestic product (GDP) is expected to contract to between -1 percent to 1 percent this year.

Up until March 13, 2009, ASM has recorded a gross income of RM440.73 million. Dividend income from investments made throughout the year contributed RM219.33 million or 49.76 percent of the gross income.

Profit from the sale of shares contributed RM137.84 million, or 31.28 percent and the remaining income of RM83.56 million or 18.96 percent is derived from investments in short term instruments.

The calculation of the income distribution is based on the average monthly minimum balance held throughout the financial year of ASM.

 The income distribution will be reinvested in additional units of ASM to be automatically credited into the unit holders’ account on April 1, 2009.

ASM transactions at all branches and agents nationwide will be suspended beginning March 25 to March 31, 2009 to facilitate the calculation of income distribution. Unit holders can update their ASM investment book beginning April 1, 2009.

The income distribution statement and annual report will be sent to unit holders beginning middle of May, 2009.

Launched in 2000, ASM is a fixed priced ‘Equity-Income Fund’ aimed at providing unit holders with a long-term investment opportunity that generates regular and competitive returns through a diversified portfolio of investments.